iShares Global Clean Energy ETF
ICLN ThematicUpdated: Jul 5, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| Bloom Energy Corp Class A | BE | 12.14% | |
| First Solar Inc | FSLR | 9.55% | |
| Nextpower Inc Class A | NXT | 8.4% | |
| Enphase Energy Inc | ENPH | 5.92% | |
| China Yangtze Power Co Ltd Class A | 600900.SS | 5.31% | |
| Plug Power Inc | PLUG | 3.64% | |
| SolarEdge Technologies Inc | SEDG | 3.02% | |
| Vestas Wind Systems AS | VWS.CO | 2.71% | |
| Equatorial SA | EQTL3.SA | 2.26% | |
| Suzlon Energy Ltd | SUZLON.BO | 2.13% |
Sector Allocation
About This ETF
The iShares Global Clean Energy ETF (ICLN) is a Thematic ETF with an expense ratio (TER) of 0.39% and $3.2B in assets under management., with its largest holdings being Bloom Energy Corp Class A, First Solar Inc, Nextpower Inc Class A. The ETF currently yields 1.14% in dividends. Year-to-date, ICLN has returned +15.34%.
The index is designed to track the performance of approximately 100 clean energy-related companies. The fund generally invests at least 80% of its assets in the component securities of the index and in investments that have economic characteristics that are substantially identical to the component securities of the index and may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, as well as in securities not included in the index. It is non-diversified.
FAQ — ICLN
What is the TER of ICLN (iShares Global Clean Energy ETF)?
ICLN has a Total Expense Ratio (TER) of 0.39 % per year. That sits below the thematic category median (0.68 % across 15 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has ICLN delivered?
Performance for ICLN: YTD: +15.34 % · 3-year p.a.: +3.81 % · 5-year p.a.: -2.19 %. Over 5 years, ICLN underperforms the thematic category median of +2.05 % by -4.24 pp. Past performance is no guarantee of future returns.
What are the top holdings of ICLN?
The five largest positions in ICLN are: BE, FSLR, NXT, ENPH, 600900.SS. The full holdings list is updated daily on this page.
Does ICLN pay dividends?
ICLN has a current dividend yield of 1.14 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for ICLN?
ICLN is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What is the iShares Global Clean Energy ETF?
The iShares Global Clean Energy ETF (ICLN) bundles roughly 100 clean-energy companies spanning solar, wind, hydrogen and utilities. Its largest positions include Bloom Energy (13.73%), Nextpower (7.28%) and First Solar (7.15%). With $2.5B in assets it is one of the best-known energy-transition theme funds. Crucially, this is a focused bet on a single trend, not a broadly diversified core holding — and it should be sized accordingly within a portfolio.
Performance in context
The figures show the typical roller-coaster of a thematic ETF. Year-to-date the fund is up a strong 36.84%, while the annualised 3-year return sits at 9.55% and the 5-year return at just 1.7%. The price trades near its high at a 52-week position of 97.8%, close to the $23.65 high and far above the $12.47 low.
Returns are driven by interest-rate levels, government support policy, commodity prices and sentiment toward solar and hydrogen names. The sector mix — utilities 36.0%, industrials 31.58%, technology 30.7% — explains the high rate sensitivity. The dividend yield is 1.3%.
Risk profile
This ETF is far more volatile than a broad index. Concentration is high: Bloom Energy alone accounts for 13.73%, and the issuer classifies the fund as non-diversified. The gap between the 52-week high ($23.65) and low ($12.47) illustrates the drawdown risk.
- Theme risk: The energy transition can stay out of favour for years, as the meagre 5-year return shows.
- Interest-rate risk: Utilities and capital-intensive projects react strongly to rising rates.
- Currency risk: The fund is priced in US dollars; for euro-area investors the value fluctuates additionally with the EUR/USD exchange rate.
The total expense ratio is 0.39%.
Who is it suitable for?
ICLN fits conviction-driven long-term investors with a horizon of at least seven to ten years who want targeted exposure to the energy transition and can stomach interim losses of 40% or more. It works best as a small satellite position alongside a broadly diversified core portfolio.
It is not suitable for safety-oriented investors, for short-term savings goals, or for anyone who mistakes it for a replacement for a global all-world ETF. The weak 1.7% five-year return shows the trend can disappoint for a long time. Those who cannot tolerate high volatility or who will need the capital soon should avoid this theme.
How it compares to peers
Within clean energy, ICLN competes with several theme funds:
- Invesco Solar ETF (TAN): Pure solar focus, making it even more concentrated and volatile than the broader ICLN.
- First Trust Global Wind Energy ETF (FAN): Specialised in wind power; it complements ICLN rather than replacing it.
- iShares Global Clean Energy UCITS ETF (INRG): The European, typically EUR-tradable version tracking a near-identical index — often more practical for euro-area investors.
With a 0.39% expense ratio, ICLN sits in the usual range for thematic ETFs, well above broad index funds. All of them share the same theme risk.
Where can I buy ICLN?
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